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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to~this paragraph 7, with interest thereon. shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and [.ender agree ro other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time an outstanding principal under the Note unless payment of
<br />interest at such rate would he contrary to applicable law. in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />g. Inspection, Lender may make or cause ro he made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prier to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnalbn. The proceeds of any award or claim for damages, direct or consequentiah in connection with any
<br />condemnation or other taking of the Property, or part thereof, ar far conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess. if any. paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing. there shall he applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with [he balance of [he proceeds
<br />paid to Borrower.
<br />if the Property is abandoned by Borrower ar if. after notice by Lender to Aorrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails tv respond to Lender within 30 days after the dale such notice is
<br />mailed. Lender is authorized to collect and apply the proceeds. at L.ender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of
<br />such installments.
<br />l0. Borrower Not Released. Extension of the time (or payment or madification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner,
<br />the Iiabiliry of the original Borrower and Borrower's successors in interest. bender shall not be required [o commence
<br />proceedings against such successor or refuse to extend time for pavmen[ or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising env right or remedy hereunder, or
<br />otherwise afforded by applicable law. shall not he a waiver of er preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of fazes or other liens or charges by 1-ender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative [o any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound: Joint and Several liability: Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. .0.11 covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are For convenience only and are not ro be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice-to
<br />Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as Provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested, to lender's address stated- herein or[o
<br />such other address as Lender may designate by notice [o Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or [.ender when given in the manner designated herein.
<br />1S. Uniform MoAgage; Governing Law; Severability. This form of mortgage wmbines uniform covenants For national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering.
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />even[ that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />iti. Borrower's Copy. Borrower shag be furnished a conformed copy of the Note and of this Mortgage a[ the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Properly; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (h) the creation of a purchase money securit}' interest for household appliances, {c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (c0 the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person ro whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request. If 1_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from alt
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate. Leniler shall mail Harrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower. invoke ang remedies permitted by paragraph 18 hereof.
<br />NoN-L)NIFORM COVENANTS. Borrower and Lender further covenam and agree as follows:
<br />i6. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
<br />Lender prior to accekration shall mail notice to Borrower as provided in paragraph 14 bereof specifying: (1) the breach;
<br />(2) the action required to cure such breach; (3) a dale, not less than 30 days from the date the notice is mailed to Borrower,
<br />by which such-breach mull be cured; and (4) that failure to cure such breach on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this M1lorlgage, foreclosure by judicial proceeding and sale of the Properly.
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the non-existance of a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />is not cured nn or before the date specified in the notice, Louder at Lender's option may declare all aF the sums secured by
<br />the Mortgage to be immediately dun and payable without further demand and may foreclose by judicial proceeding. Lander
<br />shall 6e enliflod to rnllecl in such proceeding all expenses of foredusnre, including, but not limited to, costs of documentary
<br />evidence, al~t[t[cts aad title. reports.
<br />19. Borrower's Right to Reitrstale. Notwithstanding Lender's accclerauvn of the sums served by this Mortgage,
<br />Borrower shat! have the right w have any proceedings hcgun by !.ender to entorcc ihu ~4ortgage disamunued at any ume
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